A number of reports have noted that the Asia-Pacific region is one of the fastest growing regions for medical devices.
Here are five key trends in the Asia-Pacific spine surgery devices market, according to a report from Big Market Research:
1. The market is expected to reach $2.2 billion value by 2019.
2. The market is estimated to grow at a compound annual growth rate of 10.5 percent from 2014 to 2019.
3. The market growth is primarily due to the increasing incidents of spinal deformities among the aging population in the region as well as the popularity of non-fusion devices.
4. As of 2014, the market was dominated by the Stryker, DePuy Synthes Companies of Johnson & Johnson, Smith & Nephew and Tornier.
5. New product launches, as well as mergers and acquisitions, are some of the major strategies adopted by these market players.